Employment rate, umabot sa 96% nitong Agosto ayon sa PSA

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00:00The situation in the Philippines is getting better when it comes to giving jobs to Filipinos.

00:05The number of Filipinos who have no jobs decreased this August, according to the Philippine Statistics Authority.

00:12Joshua Garcia is back.

00:14The increase in the employment rate continues.

00:18Unemployment in the country is also decreasing, according to the latest data from the Philippine Statistics Authority,

00:23especially during the bear months and holiday season.

00:26If we look at October, November, December last quarter, because of the holidays, release of bonuses,

00:33our household final consumption expenditure is increasing.

00:37We have a lot of jobs that are being created.

00:40We have expectations that our labor force participation will increase

00:46compared to our employment this last quarter.

00:50In the latest labor force survey of the PSA just last August,

00:54the employment rate increased by 96 percent compared to 95.6 percent last year in the same month

01:02and 95.3 percent in July 2024.

01:05This is equivalent to Php 48.07 million that had jobs in August 2023

01:11up to Php 49.15 million in August 2024.

01:15The unemployment rate decreased by 4 percent for the month of August this year

01:20from 4.4 percent in the same month of 2023

01:23or equivalent to Php 2.22 million that had no jobs in August 2023

01:27up to Php 2.07 million this year in the same month.

01:31National Statistician Undersecretary Claire Dennis Mapa

01:35believed that this is a result of a large number of women

01:38who joined the labor force that increased the labor force participation rate.

01:42Year on year, between August 2023 and August 2024,

01:46about 1.03 million female workers joined the labor force

01:52and about 1.03 million were absorbed in the labor market, meaning they were employed.

01:59Overall, the labor force participation rate or LFPR remained at a high rate of 64.8 percent this August

02:06where it amounts to Php 51.22 million

02:10which is active in the labor market, which is higher than Php 50.29 million in 2023.

02:15Meanwhile, according to the National Economic and Development Authority or NEDA,

02:19the Philippines will have a good Christmas in the latest labor force survey

02:23along with a decrease in the inflation rate of 1.9 percent this September

02:27while the government is planning work for the country or TVP for 2025-2034

02:33led by the TVP Interagency Council

02:36which has a partnership with other government agencies and stakeholders from the private sector.

02:41Joshua Garcia for Pambansang TV in Bagong, Philippines.

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